Kirloskar Pneumatic shares soar 18% as post-earnings rally extends to 2nd day
Kirloskar Pneumatic Company shares surged another 18% in today's intraday session, reaching a new all-time high of ₹1,076.70 apiece. Investors continued to express optimism following the company's healthy performance for Q4 FY24 and for the full fiscal year. During the previous trading session, the company soared by 15% after it released its results during market hours, surpassing analysts' expectations.
This two-day rally has pushed the stock's one-year gain to 74% and its five-year gain to an impressive 472%. In the March quarter, the company reported a revenue of ₹490 crore, marking 36% YoY growth. Its EBIDTA during the quarter jumped to ₹89 crore, a 74.50% improvement compared to ₹51 crore in Q4FY23.
Also Read: Why Bajaj Finance shares have tanked 8% despite double-digit YoY growth in PAT, NII in Q4? On the bottom line, the company recorded a PAT of ₹60 crore, up from ₹32 crore in Q4FY23, representing an 88% year-on-year increase. For the full FY24, the company reported revenue from operations of ₹1,323 crore, a 7% growth from ₹1,239 crore in FY23. The PAT for FY24 stood at ₹133 crore, up from ₹108 crore in FY23, indicating a 23% year-on-year increase.
EPS for FY24 was reported at ₹20.60 per share, compared to ₹16.82 per share in FY23. Additionally, the company announced a final dividend of 200% at ₹4 per share, addition to the interim dividend of 125%, resulting in an overall dividend of ₹6.50 per share (325%). Also Read: Neogen: Kotak Institutional recommends buying the stock, says firm has first-mover advantage in EV battery chemicals Kirloskar Pneumatic Company is a core entity within the Kirloskar Group.
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